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Leading venture capital fund Sequoia Capital India has invested $12 million in Paras Pharmaceuticals, a leading OTC and personal care company. Paras based in Ahmedabad, has a portfolio of 15 brands, including Moov and D’cold which are among the Top 10 Indian OTC brands. Actis recently invested $42 million in Paras.

In a statement issued today, Girish Patel, CEO, Paras Pharmaceuticals, said “Sequoia Capital India will help us in achieving our aim of taking our brands and business to the next level. We believe that Sequoia Capital India and Actis can provide us with sound advice as well as assist us in strengthening our portfolio and brands.”

SK Jain, Managing Director at Sequoia Capital India, said, "We are excited to be an investor in Paras Pharmaceutical Ltd. Under Girish and Devendra’s leadership, Paras has built several industry leading brands driven by their unique insights into the Indian consumer. We look forward to working with them in enabling Paras to become the leading OTC pharmaceutical and personal care company.”

Sequoia Capital India recently closed a growth capital fund of $400 million for India. The Paras invstment has been done out of this fund. Sequoia's first investment from the growth fund was $20 million in Cafe Coffee Day owner, Amalgamated Bean Coffee Trading. Sequoia Capital India manages three funds with a total corpus of about $750 million.

Related:

Actis Announces $42 Million Investment In Paras Pharma